Economico Bank has US 100 million credit line

Luanda - The Banco Economico (BE) bank has a credit line of US 100 million to finance various projects under the Angola Investe Programme, the coordinator-director of the Office of the financial institution, Jorge Ramos, has announced.

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Jorge Ramos - coordinator of BE bank's credit project

Photo: Clemente dos Santos

Speaking to ANGOP on "The importance of the Angola Investe programme in the process of diversification of the economy," Jorge Ramos explained that 100 million dollars are available based on an existing agreement between the bank and the Ministry of Finance.

The official said that the programme has already financed six projects located in the province of Luanda, two in Bengo one in Huambo, two in Cuanza Sul and one in Bié, totalling eleven projects.

However, four are waiting for funding and they are in the final stages, nine under analysis, 19 new applications.

The official said that after submitting the application, the bank intends to respond within no more than three months.

The BE began funding projects under the Angola Investe programme on July 24, 2013, in agricultural and bakery area.

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